The CME Silver future's bullish trend remains on track as it improves slightly to $25.11

CME Silver continues a 12 day surge, reaping a total of 25.53%. Heading in the same direction for now — Silver posts light gains on a low-volatility day, ranging between $24.86 – $25.14 and is now at $25.11 per troy ounce.

United States Initial Jobless Claims data will be released today at 12:30 UTC, with an expected decline to 200,000.

On the flip side, highly important Crude Oil Inventories data from United States beat analyst expectations of -2.33 million with a reading of -3.74 million.

At the same time, United States ISM Non-Manufacturing PMI (Mar) came out at 51.2, while a consensus of analysts was expecting 54.5. United States ADP Nonfarm Employment Change (Mar) released yesterday at 12:15 UTC with a figure of 145,000, while the previous figure was 261,000.

Investors are seeking long positions as Silver price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. On the other hand, note that the CME Silver future is 23 cents away from testing key resistance at $25.33. Peaking above this level could inspire market bulls and open the path to further gains. 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end.

Overall, looking at the technical analysis landscape, it seems Silver might continue pointing upwards in the short term.

A look at other Metals also shows upside as having closed the previous session at $4, Copper is up 0.79% today to currently trade at around $4. Platinum ascends 0.56% to trade around $1,013.

Also worthy of note, projections for United States Non Farm Payrolls are set for a continuation of decline with 239,000 while previous data was 311,000; data will be released tomorrow at 12:30 UTC. United States Initial Jobless Claims projected to come out at 200,000 — worse than previous data of 198,000; data will be released today at 12:30 UTC.

Furthermore, the market is looking at United States Unemployment Rate is expected tomorrow at 12:30 UTC.

The commodity has been trending positively for about 29 days. The CME Silver future hit a significant low of $17.67 around 7 months ago, but has since recovered 41.69%.